Fri.Nov 08, 2024

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AI Regulations for Financial Services: Federal Reserve

Perficient

Artificial intelligence (AI) is poised to affect every aspect of the world economy and play a significant role in the global financial system, leading financial regulators around the world to take various steps to address the impact of AI on their areas of responsibility. The economic risks of AI to the financial systems include everything from the potential for consumer and institutional fraud to algorithmic discrimination and AI-enabled cybersecurity risks.

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Afterpay to arrive on 24M Cash App cards

Payments Dive

The digital payment company’s leader, Jack Dorsey, aims to create lending services that will appeal to millions of U.S. adults who haven’t had access to other forms of credit.

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What are the top future banking trends?

ATM Marketplace

Erin Cohee, VP of user experience and business development at OneUnited Bank to learn more about top banking trends from the perspective of the largest Black-owned bank in the U.S.

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Remitly, Payoneer cross-border payments climb

Payments Dive

Payments volume soared for the money transfer fintechs during the third quarter. Meanwhile, revenue at legacy rival Western Union slipped.

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How a Managed Services Partner Can Reduce the Friction in Your RDC Program

Treasury teams at community banks face an ongoing challenge of delivering frictionless customer experiences as they support treasury products – especially RDC. This infographic focuses on the efficiencies community banks gain when partnering with a proven managed services provider. You’ll see the advantages you can gain when a managed services partner leverages online tools, skilled customer and technical support personnel, and fulfillment and logistics capabilities to streamline RDC fulfillment

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PNC doubles its branch expansion plans

American Banker

The Pittsburgh-based superregional bank plans to build more than 200 new branches in 12 states by 2029, twice the number it announced in February, in a bid to increase scale.

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More Trending

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Ex-TD Bank employee in AML unit charged with check fraud-related felony

American Banker

Daria Sewell pleaded not guilty to possessing customers' personally identifiable information. The case adds to the Canadian bank's anti-money-laundering woes.

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Africhange secures IMTO licence to streamline remittance to Nigeria

The Paypers

Africhange has announced that its Nigerian branch, Currenzo, has obtained an International Money Transfer Operator (IMTO) licence from the Central Bank of Nigeria.

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Michigan credit union lands second bank deal in Florida

American Banker

DFCU Financial said it reached a deal to acquire Winter Park National Bank in the Orlando metropolitan area. It was a record 20th credit union-bank merger of the year.

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Authlete introduces Authlete 3.0 update

The Paypers

Japan-based Authlete , known for its implementations of OAuth 2.0 and OpenID Connect, has introduced the Authlete 3.0 update.

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Budget Playbook for Commercial Lenders — Bank and Credit Union Edition

Amid market uncertainty, banks and credit unions are faced with critical decisions about the future of their commercial lending. With fluctuating interest rates and rising competition from non-bank lenders, it's critical to allocate your 2025 budget strategically to optimize lending operations. Our Budget Playbook for Commercial Lenders delivers key strategies to help you navigate these challenges, ensuring your institution is well-positioned for the coming year.

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Annual Trends Reports

Javelin Strategy & Research

Banner Section Home Rss.xml Annual Trends Reports Javelin's experts dive into the digital financial services trends and predictions they see coming in the new year. With one report per practice area, we offer strategic insights across Digital Banking, Fraud & Security, Payments, and Wealth Management. Open Positions Accordian Reports Section 2025 Digital Banking Trends Javelin Report Date: November 7, 2024 Authors: Mark Schwanhausser , Emmett Higdon , Dylan Lerner , Ian Benton , Gregory Magana

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Flexys partners with 10x Banking to accelerate digital transformation

The Paypers

Flexys has announced its partnership with cloud-native core banking platform 10x Banking in order to accelerate digital transformation in debt management for FIs.

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Valley's $400M capital raise accelerates pivot away from CRE

American Banker

The added capital will help the New Jersey-based regional bank reduce its commercial real estate footprint faster and give it wiggle room to grow elsewhere, analysts said.

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Visa introduces a suite of new products and services for APAC

The Paypers

Visa has rolled out a suite of new products and services for the Asia Pacific region, with the solutions aiming to improve cards for financial industry participants.

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It Takes Two to Tango

With automation, you’ll reduce errors and save valuable time, allowing you to focus on what really matters: strategic analysis and insightful decision-making. Picture accurate financial reports ready at your fingertips, giving you the confidence to tackle business challenges head-on. Embracing automation not only boosts productivity but also elevates your role from number cruncher to closing rockstar.

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CFPB's open banking rule will kill community banks with kindness

American Banker

By exempting small banks from compliance with its open banking rule, the Consumer Financial Protection Bureau is relegating them to the dustbin of history. That cannot be allowed to happen.

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Jumio teams up with LatticeFlow AI to scale fraud prevention and compliance

The Paypers

US-based Jumio has entered into a collaboration with LatticeFlow AI to solidify AI-enable identity verification for fraud prevention and compliance.

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Affirm wants more from consumers to boost BNPL

American Banker

The buy now/pay later company beat analysts estimates on revenue and net income, and is trying to get more frequent usage out of its customers.

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Research by Tunic Pay, Opinium shows banks' scam warnings fail to stop customers taking risks to make payments

The Paypers

New research by Tunic Pay and Opinium has showed that efforts by banks to add friction to instant transfers as a way to curb scams are ineffective, as customers overlook these measures.

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The 2024 Lenders Guide to Automating the Complex Loan

Download the latest edition of GoDocs' "The Lender's Guide to Automating the Complex Loan." This comprehensive guide offers financial institutions valuable insights into document automation for complex commercial loans. It unpacks the intricacies of complex loans and showcases how an automation platform like GoDocs — the leading commercial loan closing platform — delivers impressive benefits and ROI to any FI.

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Has CFPB Started a War Over Open Banking — or Created New Opportunities for Banks?

The Financial Brand

This article Has CFPB Started a War Over Open Banking — or Created New Opportunities for Banks? appeared first on The Financial Brand. A controversial rule, if it stands, could cost banking plenty and help its competition. But are there opportunities beneath the noise of battle? This article Has CFPB Started a War Over Open Banking — or Created New Opportunities for Banks?

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Groov secures GBP 1.5 mln in Seed funding

The Paypers

Groov , an embedded lending platform, has raised GBP 1.5 million in a Seed funding round, led by Fuel Ventures , with participation from Aperture Capital and a group of angel investors.

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Trump win unlikely to stop the crackdown on BaaS and fintech

American Banker

Tough exams and consent orders on banks that partner with fintechs are expected to continue for some time.

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MODIFI obtains USD 15 million from SMBC Asia Rising Fund

The Paypers

MODIFI has received USD 15 million in a funding round led by SMBC Asia Rising Fund, with the company planning to leverage the capital to scale Asian exports for SMEs.

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Confronting the Change Challenge

Change is difficult, whether in our private or work life. However, without change, growth and learning are difficult not to mention keeping up with the market and staying competitive. We have all worked for or ourselves are the bosses that prefer to keep the status quo. We will discuss how to address the "change challenge" to enable you to be a changemaker and a graceful recipient of change.

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How Trump's election win will change payments

American Banker

A digital dollar is likely on the way out in favor of non-government crypto, but those betting for fewer restrictions on fees and less antitrust litigation will likely be disappointed.

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NatWest and Capco join forces to support the advancement of payments

The Paypers

NatWest has partnered with Capco to ensure a smooth transition for its systems and clients as the financial industry adopts ISO 20022 for payments and reporting.

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Are big bank deals back? What Trump could mean for M&A

American Banker

During Donald Trump's last presidency, the massive merger that created Truist shook up the industry. What's coming this time around?

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Marygold & Co. partners with Griffin to support healthy financial habits

The Paypers

UK-based Marygold & Co. has entered into a collaboration with Griffin to integrate savings accounts in its app and support healthy financial habits.

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Is Your Current Card Platform Holding You Back?

Have you ever felt the pain and loss of a client suddenly going silent, leaving you questioning everything? Ghosting can cause heartbreak; in business, it drains resources, and emotionally, it shatters your confidence. A modern credit card program can give you the tools to deliver the digital-first experiences your customer’s demand. Our eBook, “5 Signs Your Credit Card Offering Needs an Upgrade,” will help you identify key indicators that your current card platform may be holding you back and w